Deputy Minister of Economy who Controlled Egg Prices Now Targets Beef and Pork Prices

90% of Small Business Hope Recovery Fund Paid Before Chuseok

[Asia Economy Reporter Jang Sehee] The government plans to expand the supply of items such as beef and pork, which are expected to see price increases due to the distribution of the National Support Fund. The aim is to proactively manage prices by increasing supply compared to normal years.

Lee Eok-won, First Vice Minister of the Ministry of Economy and Finance, held an Innovation Growth Strategy Review Meeting and a Price Vice Ministers' Meeting at the Government Seoul Office on the 27th, stating, "We will adjust the shipment timing so that beef is supplied at 1.6 times and pork at 1.25 times the usual levels, and imports will also be expanded by 10% for beef and 5% for pork compared to normal years." The plan is to focus on managing prices so that beef and pork prices do not suddenly spike due to the distribution of the National Support Fund.

Vice Minister Lee continued, "In the case of eggs, restocking of farms that culled hens will be completed before Chuseok, and imported eggs will continue to be supplied, including 100 million eggs in September," emphasizing, "We will do our best to stabilize egg prices, which recently fell to around 6,700 won, more quickly." Egg prices soared to 7,821 won per tray (30 eggs) on February 15, then recorded the high 6,000 won range on the 12th of this month. The price dropped to 6,769 won the day before.

Vice Minister Lee stressed, "We will check the Chuseok price situation weekly and mobilize all capabilities to ensure that measures are implemented as planned."

The government also plans to promote detailed tasks such as supporting parts companies' transition to proactively build the future car ecosystem.

Vice Minister Lee said, "With the amendment of the Eco-friendly Vehicle Act last July, the 'Eco-friendly Vehicle Purchase Target System' for rental cars, freight, buses, and taxi companies will be fully implemented from January next year," adding, "A pilot project targeting major companies will be launched from September this year." Furthermore, for parts companies, active support will be provided for the business restructuring of more than 100 companies annually, aiming for 1,000 companies by 2030.

Meanwhile, support for small business owners and self-employed individuals will continue. Vice Minister Lee stated, "We will ensure that payments are completed for more than 90% of the recipients of the Small Business Hope Recovery Fund before Chuseok."

This content was produced with the assistance of AI translation services.